Shell to sell Nigeria domestic gas business to Vaaris Energy

By Faith Odukomaiya

Shell Petroleum B.V. has signed an agreement to sell its full interest in Shell Nigeria Gas Group to Vaaris Energy Limited, a Nigerian energy company, as the oil major refocuses its investments on strategic businesses.
Shell’s Country Chair in Nigeria, Elohor Aiboni, said the transaction would provide a platform for the domestic gas distribution business to grow under new ownership. “Shell Nigeria Gas has served industrial and commercial customers in Nigeria for more than 25 years, supported by the commitment and expertise of its people,” Aiboni said. “We believe this agreement provides a much stronger platform for the business’ next chapter under new ownership. ...